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FBAR Guard

Does married filing jointly mean we also file our FBAR jointly?

Updated

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Short answer

No. Filing a joint tax return doesn't decide whether spouses can file one FBAR. The spousal exception has its own three conditions.⁠Source 1

How the rule works

The IRS says income-tax filing status, married filing jointly or separately, has no effect on the spousal exception. A non-U.S.-person spouse who joins a joint return through an election under IRC 6013(g) or (h) doesn't become a U.S. person for the FBAR. Start with each spouse's foreign accounts and signature authority, then check whether every account the non-filing spouse must report is jointly owned with the filing spouse.⁠Source 1⁠Source 2⁠Source 3

Example

A couple files Form 1040 jointly. One spouse also holds a foreign savings account in their own name, in addition to the couple's joint accounts. That spouse can't be the non-filing spouse. The couple can still file one FBAR if the spouse with the separate account is the one who files.⁠Source 3

What to check

Apply the FBAR rules to each spouse, whatever your tax filing status. If both spouses must file separately, each reports the full value of every jointly owned account.⁠Source 2⁠Source 4

Related questions

Full rules and more examples: Joint accounts, spouses and children

Sources

Official sources used for this page.

  1. Source 1: IRS, Report of Foreign Bank and Financial Accounts (FBAR) (opens in a new tab)

    U.S.-person and $10,000 tests, spousal exception, irrelevance of income-tax filing status and extensions for certain employees and officers.

    irs.govChecked Back to text

  2. Source 2: IRS, Internal Revenue Manual 4.26.16 — FBAR (opens in a new tab)

    Financial interests, signature authority, U.S. residency (including 6013(g)/(h) elections and treaties), family attribution, spousal filing, Form 114a parts and amended-FBAR identifiers.

    irs.govChecked Source updated Back to text

  3. Source 3: FinCEN, Filing for Spouse (opens in a new tab)

    Three conditions for reporting jointly owned accounts on one spouse's FBAR and use of Form 114a.

    fincen.govChecked Back to text

  4. Source 4: FinCEN, Reporting Jointly Held Accounts (opens in a new tab)

    Part III instructions, full account values, joint owner count, principal joint owner identity and blank items.

    fincen.govChecked Back to text